Transports Lead Market

06/03/2010 10:04 am EST

Focus: STOCKS

Thomas Aspray

, Professional Trader & Analyst

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Despite the weak close on Tuesday, stocks powered higher Wednesday, led by the Dow Transports, which were up over 3%. The chart of the Dow Transports shows that the market has found good support at the rising 200-day MA, and so far, the decline has held well above the support from the November-to-February lows. There is next resistance in the 4400 area, with more important resistance at 4500-4540. Key support is now at 4220.

Tom Aspray, professional trader and analyst, serves as video content editor for MoneyShow.com. The views expressed here are his own.

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